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My Thoughts on Silver and Gold

|Includes: SPDR Gold Trust ETF (GLD), SLV

 As you can see by the 3 line break chart in weekly view, the trend has obviously changed in silver. I would not be buying these dips as you’re most likely going to be straddled with losses very fast. If you do want to get into silver, I suggest waiting for a dip to the 50 day moving average on the weekly chart (last chart) where there will most likely be some sort of capitulation day of trading where the rest of those who have held on this long will most likely surrender their positions.

Yes silver has had a massive fall, but until we get a white candle in this chart, buying anything other than a “blood in the streets) sort of day is very dangerous.

Gold has held up nicely through all of this as seen in the weekly 3 line break chart as we have yet to print a red candle and the TRIX remains pointing up. This is the trade if you want to expose yourself to the precious metals market as the trend remains firmly up.